5 Ways Entrepreneurs Can Increase Their Income
If you are an entrepreneur, increase your income without increasing your work load. In this article “5 Ways Entrepreneurs Can Increase Their Income,” I am sharing with you the proven ways that I’ve personally used to increase my income. You do have to put in work in some of the ways I share with you. But most of the work is set it and forget it or the work can easily be delegated to a Virtual Assistant (VA). I have listed 5 ways to increase your income. Implementing all 5, one by one, will help you scale quickly and easily.
#1 SELL DIFFERENT VERSIONS OF YOUR TOP SELLING SERVICE/PRODUCT
Once you have a best seller, duplicate your success by creating different versions of the best seller.
Don’t just add color or size choices, create different versions that target other markets.
Example is the “Chicken Soup for the Soul” book series.
#2 LIST YOUR ITEMS ON OTHER CHANNELS
- Whether you’re selling digital or physical products, listing them in various channels will increase revenue.
- With automation, listing products across multiple channels, is the fastest way to reach new customers.
#3 TURN A PRODUCT INTO A SERVICE
- Could the current product you offer be made into a service? The service behind the product is where the real revenue is made.
- Service associated with products can bring in steady recurring revenue.
#4 CREATE RECURRING REVENUE
- Subscription model businesses bring in steady income and can scale quickly.
- Membership only access, related to your product or service, is a great source of revenue.
#5 RAISE YOUR PRICES
Very simple but very effective.
The best time to charge more was yesterday.
The next best time to charge more is today.
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